Saifee notes that Wilmar has flagged geopolitical and operating headwinds. Nonetheless, he sees a "constructive" outlook as Wilmar has guided for mid-single digit growth food product volumes, and double-digit growth for newer categories such as flour, rice and noodles.
Hussaini Saifee of Maybank Securities has upgraded his call for Wilmar International from "hold" to "buy", along with a higher target price of $3.85, up from $3.12 previously.
As observed by Saifee in his March 10 note, the agri-food giant delivered what is deemed "resilient" FY2025 numbers, with core earnings up 10% y-o-y and revenue up 5%, thanks to growing volumes, stable pricing and improved product mix.
